Axxcess Wealth Management LLC Grows Holdings in Occidental Petroleum Co. (NYSE:OXY)

Axxcess Wealth Management LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 20.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,824 shares of the oil and gas producer’s stock after buying an additional 6,081 shares during the period. Axxcess Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. increased its stake in Occidental Petroleum by 14.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,028 shares of the oil and gas producer’s stock worth $208,000 after buying an additional 514 shares during the period. XML Financial LLC grew its holdings in Occidental Petroleum by 25.6% during the 3rd quarter. XML Financial LLC now owns 22,747 shares of the oil and gas producer’s stock worth $1,172,000 after acquiring an additional 4,636 shares in the last quarter. Oxbow Advisors LLC grew its holdings in Occidental Petroleum by 49.8% during the 3rd quarter. Oxbow Advisors LLC now owns 5,265 shares of the oil and gas producer’s stock worth $271,000 after acquiring an additional 1,750 shares in the last quarter. Primoris Wealth Advisors LLC grew its holdings in Occidental Petroleum by 22.5% during the 3rd quarter. Primoris Wealth Advisors LLC now owns 30,450 shares of the oil and gas producer’s stock worth $1,569,000 after acquiring an additional 5,600 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in Occidental Petroleum by 7.0% during the 3rd quarter. TCTC Holdings LLC now owns 427,907 shares of the oil and gas producer’s stock worth $22,054,000 after acquiring an additional 27,825 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. UBS Group reduced their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Susquehanna dropped their price target on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets dropped their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.78.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $50.81 on Tuesday. The company’s 50 day moving average price is $52.20 and its 200 day moving average price is $57.96. Occidental Petroleum Co. has a 52 week low of $49.51 and a 52 week high of $71.18. The company has a market capitalization of $46.01 billion, a PE ratio of 12.51 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 21.67%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.